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Vivendi files lawsuits to challenge Mediaset's restructuring

Vivendi SA filed lawsuits in Spanish and Dutch courts to counter Mediaset SpA's plan to create a pan-European media group.

The French company, which holds a 29.92% stake in Mediaset, intends to challenge the formation of the Netherlands-based holding company in the Spanish court. The first hearing in Spain will take place on Oct. 2.

Vivendi requested the Netherlands court's judge to prohibit Mediaset Investment NV, Mediaset's Dutch direct subsidiary, to introduce certain provisions in its articles of association. Such provisions include Article 13, or certain provisions concerning special voting shares, Article 42, or shareholders obligations and/or Article 43, or the mandatory bid requirement. The hearing in the Netherlands is scheduled for Oct. 16.

Vivendi held on to its Mediaset stake in its plan to pursue a legal battle against the Italian company, Reuters reported. Vivendi had the option to sell its Mediaset stake until midnight of Sept. 21.

Vivendi's move comes after the Italian media company's shareholders approved the plan to combine Mediaset and Mediaset España Comunicación SA into a new holding company. Mediaset and Mediaset España will be merged into Mediaset Investment, which will be renamed MFE-Mediaforeurope NV.

Prior to the voting, Mediaset faced conflicts with Vivendi.